Keubiko
Long/short equity, deep value, value, special situations

Destiny Media's Problem Child Won't Move Out Of The Basement And Get A Job

"The older I get, the better I used to be."
- John McEnroe

In February, 2014 I wrote an article on Seeking Alpha (found here) critical of Destiny Media Technologies (OTCQX:OTCQB:DSNY), a company that had been bid up to what I believed were outrageous valuation levels based on hype surrounding its supposedly disruptive "Clipstream" technology. The quick summary of my short thesis at the time was:

    DSNY's core (>97% of revenue) PlayMPE product line, using optimistic assumptions, justified a share price of $0.15 or less and is vulnerable not only to competition but a key contract renewal in 2015 (my $0.15 value assumes renewal at favorable terms). The company's second-generation video technology "Clipstream" not only faces a ...
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